09:48:53 EDT Wed 08 May 2024
Enter Symbol
or Name
USA
CA



Enbridge Inc
Symbol ENB
Shares Issued 1,704,602,546
Close 2018-06-28 C$ 43.90
Market Cap C$ 74,832,051,769
Recent Sedar Documents

Globe says Enbridge clears hurdle for Line 3 expansion

2018-06-29 07:00 ET - In the News

The Globe and Mail reports in its Friday, June 29, edition that regulators in Minnesota approved Enbridge's Line 3 pipeline project on Thursday. The Globe's Jeff Lewis writes that the state's five-member Public Utilities Commission voted unanimously to approve the $9-billion project with conditions, dismissing concerns raised by Minnesota's Commerce Department and others that Enbridge had failed to show the expansion is needed. A narrow 3-2 decision approved Enbridge's preferred route for the pipeline, south of the existing corridor, with only slight modifications, meaning it dodges the potential for lengthy delays and added costs of alternatives. Indigenous tribes and environmental groups vowed immediately to appeal the decision and maintain their resistance to the project. Bands had uniformly backed a more southerly route for the pipeline. In a sign of potential clashes ahead, the commission was interrupted midway through Thursday's deliberations in St. Paul, Minn., by shouts that it had "declared war on the Ojibwe." The approval inches Line 3 closer to fruition and is a salve for Alberta's ailing oil patch. Line 3 currently flows at a little more than half its design capacity.

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